The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

If btc gets to 1k and possibly even $500 this risk could become extreme.

Megaupload was taken out without any due process at all and its servers seized. Court documents later revealed that all action taken against megaupload was illegal, this is irrelevant. To protect against a future attack, dotcom created multiple mirrored server farms.

Seems to me this would be the easiest way to crush btc and set it back potentially years.

Don't leave your bitcoins on the exchange. Forget about trying to squeeze out a few extra percentage over the market increase by daytrading; it's not worth the risk. Send fiat in, buy bitcoins, withdraw them to a wallet under your own control.

The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

If btc gets to 1k and possibly even $500 this risk could become extreme.

Megaupload was taken out without any due process at all and its servers seized. Court documents later revealed that all action taken against megaupload was illegal, this is irrelevant. To protect against a future attack, dotcom created multiple mirrored server farms.

Seems to me this would be the easiest way to crush btc and set it back potentially years.

This would be bad for the people that have cash and bitcoins on exchange, but this would not set us back years at all, we would just move to another exchange like bitstamp which is even better than mt gox in my opinion. This is why mt gox can't be so big to not fail.

2nd Step2) With servers and data in hand, users of mtgox charged w money laundering and multiple other charges allwithout merit or due process but with great publicity.

Gox is the weak link, and i think this type of attack becomes more and more likely as btc goes up.If Gox able to withstand hackers and ddos, a no due process attack becomes more and more likely, just like megaupload.

2nd Step2) With servers and data in hand, users of mtgox charged w money laundering and multiple other charges allwithout merit or due process but with great publicity.

Gox is the weak link, and i think this type of attack becomes more and more likely as btc goes up.If Gox able to withstand hackers and ddos, a no due process attack becomes more and more likely, just like megaupload.

+1

It's only a matter of time. Mtgox was not presenting much forsight moving to the USSA.

But... when something like this does happen, I'll be buying up every coin I can on any exchange I can.

Can you imagine the type of backlash the government would receive if they shut down MtGox and seized all the servers? We're talking millions upon millions of dollar gone. There would no doubt be some riots or attacks.

Can you imagine the type of backlash the government would receive if they shut down MtGox and seized all the servers? We're talking millions upon millions of dollar gone. There would no doubt be some riots or attacks.

Look at the backlash in Cyprus. That really didn't stop them did it.

So long as they have the power to do it, they will. It would be just plain naive to believe otherwise.

Can you imagine the type of backlash the government would receive if they shut down MtGox and seized all the servers? We're talking millions upon millions of dollar gone. There would no doubt be some riots or attacks.

Doubtful. Websites get shut down with some frequency and the techie crowd doesn't do a thing.

Can you imagine the type of backlash the government would receive if they shut down MtGox and seized all the servers? We're talking millions upon millions of dollar gone. There would no doubt be some riots or attacks.

Doubtful. Websites get shut down with some frequency and the techie crowd doesn't do a thing.

The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

Wasn't the megaupload attack due to it being enormous amounts of copyrighted material being shared on their serves ? Hollywood movies, big record labels mp3's and so on ? So the entertainment industry lobbied the government into taking action.

What similarities would there be for an attack on MtGox ? All money transferred to MtGox through the banking system can be tracked, and MtGox is keeping KYC/AML notes, so I don't see why a megaupload type of attack should take place ?

Attacking bitcoin at this point would give a lot of negative press for any government and will only prove the point that the current system is bad.

The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

Wasn't the megaupload attack due to it being enormous amounts of copyrighted material being shared on their serves ? Hollywood movies, big record labels mp3's and so on ? So the entertainment industry lobbied the government into taking action.

What similarities would there be for an attack on MtGox ? All money transferred to MtGox through the banking system can be tracked, and MtGox is keeping KYC/AML notes, so I don't see why a megaupload type of attack should take place ?

Attacking bitcoin at this point would give a lot of negative press for any government and will only prove the point that the current system is bad.

I think you fundamentally misunderstand how "the press" works. If you are talking about English MSM, the deciding factor is that currently the US has a blue (ie, socialist) prime minister (they call the PM "president" and the actual President "Vice President" for the same sort of nutty reasons they use blue for socialism). This means absolutely 0 chances any arbitrarily chosen move will be depicted as anything other than saving the little guy, women, the economy, America and so forth. The opposition will be racist, rapist and whatnot.

If they had a red president things would work like you imagine, which makes me think you've stopped reading MSM during Bush or something.

The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

Wasn't the megaupload attack due to it being enormous amounts of copyrighted material being shared on their serves ? Hollywood movies, big record labels mp3's and so on ? So the entertainment industry lobbied the government into taking action.

What similarities would there be for an attack on MtGox ? All money transferred to MtGox through the banking system can be tracked, and MtGox is keeping KYC/AML notes, so I don't see why a megaupload type of attack should take place ?

Attacking bitcoin at this point would give a lot of negative press for any government and will only prove the point that the current system is bad.

I think you fundamentally misunderstand how "the press" works. If you are talking about English MSM, the deciding factor is that currently the US has a blue (ie, socialist) prime minister (they call the PM "president" and the actual President "Vice President" for the same sort of nutty reasons they use blue for socialism). This means absolutely 0 chances any arbitrarily chosen move will be depicted as anything other than saving the little guy, women, the economy, America and so forth. The opposition will be racist, rapist and whatnot.

If they had a red president things would work like you imagine, which makes me think you've stopped reading MSM during Bush or something.

Hehe, I don't read main stream news much. If find it overall of little use and value. Stupid people may be fooled by unjust actions and duped by the media, the intelligent people will not.

The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

If btc gets to 1k and possibly even $500 this risk could become extreme.

Megaupload was taken out without any due process at all and its servers seized. Court documents later revealed that all action taken against megaupload was illegal, this is irrelevant. To protect against a future attack, dotcom created multiple mirrored server farms.

Seems to me this would be the easiest way to crush btc and set it back potentially years.

Megaupload was taken out because they used US email servers, which the feds gained access to, and they found unencrypted internal staff emails where they were asking each other how to find pirate copies of movies. 'Hey where's the latest batman uploaded?' and other really dumb shit they were talking about which feds claimed was good enough evidence to seize the servers.

This only happened because Dotcom was stupid enough to use major US label artists to promote his site which was crammed full o' unlicensed material. Deeerrrpp. Right after those ads aired a massive lawyer lobby picked up the phone to their corrupt senate and congressional lackies to sick the feds on him.

I don't see this happening to Coinlab/Gox but I do forsee feds ransacking the Coinlab office every chance they get whenever some sort of bitcoin crime hits the headlines, like a ransom paid in BTC

The greatest risk to btc is mtgox as we all know and restated by max keiser just recently. While everyone is cheering recent btc rise, I think risk of a megaupload type attack goes up exponentially with the rise in btc.

Wasn't the megaupload attack due to it being enormous amounts of copyrighted material being shared on their serves ? Hollywood movies, big record labels mp3's and so on ? So the entertainment industry lobbied the government into taking action.

What similarities would there be for an attack on MtGox ? All money transferred to MtGox through the banking system can be tracked, and MtGox is keeping KYC/AML notes, so I don't see why a megaupload type of attack should take place ?

Attacking bitcoin at this point would give a lot of negative press for any government and will only prove the point that the current system is bad.

I think you fundamentally misunderstand how "the press" works. If you are talking about English MSM, the deciding factor is that currently the US has a blue (ie, socialist) prime minister (they call the PM "president" and the actual President "Vice President" for the same sort of nutty reasons they use blue for socialism). This means absolutely 0 chances any arbitrarily chosen move will be depicted as anything other than saving the little guy, women, the economy, America and so forth. The opposition will be racist, rapist and whatnot.

If they had a red president things would work like you imagine, which makes me think you've stopped reading MSM during Bush or something.

Hehe, I don't read main stream news much. If find it overall of little use and value. Stupid people may be fooled by unjust actions and duped by the media, the intelligent people will not.

During his 1956 presidential campaign, a woman called out to Mr. Stevenson "Senator, you have the vote of every thinking person!" Stevenson called back "That's not enough, madam, we need a majority!"